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2008-08-21 18:31:28
Expectations for First-Time Home Buyers Creating Conflict
First-time home buyers are primarily concerned with affordability when choosing a new home, but their expectations may be too high relative to their current financial buying power, according to a recent Coldwell Banker® survey conducted among its brokers. While nearly half of the Coldwell Banker broker respondents reported that affordability was the No. 1 concern for this group, 81 percent said today’s first-time home buyers consider move-in conditionsto be very important when searching for homes. In contrast, only 7 percent are looking to purchase “fixer-upper” homes that they could buy at a lower price and renovate themselves.
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Today’s Market
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10 Years Ago
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They are ready but want assistance in the process, including identifying neighborhoods, negotiating of price and paperwork
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73%
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32%
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Because that is what they feel like they are supposed to do
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3%
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28%
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To view houses / do walk-throughs
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17%
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30%
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To help with navigating mortgage issues
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1%
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4%
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They are not ready but trying to better understand the process
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6%
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6%
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Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2007, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the eighth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,700 residential real estate offices and nearly 117,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

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